Sphera Funds Management LTD. purchased a new position in Gemphire Therapeutics (NASDAQ:GEMP) during the first quarter, Holdings Channel reports. The fund purchased 481,046 shares of the company’s stock, valued at approximately $3,132,000.
Several other large investors also recently bought and sold shares of GEMP. Virtu Financial LLC bought a new stake in shares of Gemphire Therapeutics in the 4th quarter worth approximately $120,000. Northern Trust Corp raised its holdings in shares of Gemphire Therapeutics by 63.7% in the 1st quarter. Northern Trust Corp now owns 30,080 shares of the company’s stock worth $196,000 after purchasing an additional 11,708 shares during the period. Bamco Inc. NY raised its holdings in shares of Gemphire Therapeutics by 33.8% in the 4th quarter. Bamco Inc. NY now owns 383,970 shares of the company’s stock worth $3,053,000 after purchasing an additional 97,009 shares during the period. Finally, Exchange Capital Management Inc. raised its holdings in shares of Gemphire Therapeutics by 1,168.5% in the 1st quarter. Exchange Capital Management Inc. now owns 536,281 shares of the company’s stock worth $3,491,000 after purchasing an additional 494,005 shares during the period. 36.20% of the stock is currently owned by institutional investors.
GEMP has been the topic of a number of analyst reports. Zacks Investment Research cut shares of Gemphire Therapeutics from a “buy” rating to a “hold” rating in a report on Wednesday, March 21st. Raymond James initiated coverage on shares of Gemphire Therapeutics in a report on Wednesday, May 16th. They set an “outperform” rating and a $22.00 target price on the stock. HC Wainwright boosted their target price on shares of Gemphire Therapeutics from $22.00 to $28.00 and gave the company a “buy” rating in a report on Friday, January 26th. Finally, ValuEngine raised shares of Gemphire Therapeutics from a “sell” rating to a “hold” rating in a report on Monday, May 7th. Two equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Gemphire Therapeutics has a consensus rating of “Buy” and an average price target of $22.64.
Shares of GEMP stock opened at $6.08 on Friday. The company has a current ratio of 5.57, a quick ratio of 5.57 and a debt-to-equity ratio of 0.37. Gemphire Therapeutics has a 1 year low of $4.75 and a 1 year high of $21.59. The firm has a market cap of $86.53 million, a price-to-earnings ratio of -1.88 and a beta of 4.18.
Gemphire Therapeutics (NASDAQ:GEMP) last issued its earnings results on Tuesday, May 8th. The company reported ($0.58) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.63) by $0.05. sell-side analysts expect that Gemphire Therapeutics will post -2.57 EPS for the current fiscal year.
About Gemphire Therapeutics
Gemphire Therapeutics Inc, a clinical-stage biopharmaceutical company, focuses on developing and commercializing therapies for the treatment of dyslipidemia and non-alcoholic steatohepatitis (NASH). It is developing gemcabene, a novel, once-daily, oral therapy, for high risk cardiovascular patients who are unable to achieve normal levels of LDL-C or triglycerides with currently approved therapies, primarily statin therapy, and for those patients who present with NASH.
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